One thing you can try is to leave an unsprayed buffer strip around the pond of about 50 feet. Cut that area and incorporate grass that will blanket the area and not allow weeds to grow through. Spot treat those weeds that come up in it with a selective product that kills weeds but not grass.
Ken,
I agree 100% with Eric. Heavily overseeding this area in the early springtime should crowd out any weeds. An appropriate pH amendment and fertilizer should also be applied.
As for the other acreage -- I haven't seen anything about critters in this pasture. Are there horses, cattle, goats, sheep, etc., grazing the pasture? If not, I would brush hog this field several times during the season to not allow any of the weeds to go to seed. If you do have critters and the weeds aren't getting grazed, I'd either spot treat or cut before they can go to seed.
I'd also heavily overseed with a good pasture grass or legume appropriate for your area, and lime/fertilize as based on a good soil survey.
If you get good root systems in place in the drainage areas, you should be able to cut the suspended solids considerably.
I'd be very reluctant to start a spraying program, especially until you have solid identification of the weeds you are trying to eliminate, especially with respect to the primary grass you now have in the pasture.
Good luck,
The Other Ken